Wachovia Wants In On Abitibi Reorganization Plan

Law360, New York (January 8, 2010, 5:43 PM EST) -- Wachovia Bank has said it will support AbitibiBowater Inc.’s request to extend its exclusivity period if the bankrupt newsprint producer allows the bank to fully participate in drafting a reorganization plan.

Wachovia’s “full participation in the plan process” is necessary for an “expeditious, consensual” plan, according to a reply brief the bank filed in AbitibiBowater’s Chapter 11 proceedings on Thursday in the U.S. Bankruptcy Court for the District of Delaware.

While there are important constituencies in the case, other significant parties need to be involved in...
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